“US stocks surge as investors eagerly anticipate the Federal Reserve’s decision and brace for Apple’s earnings, setting the stage for an exciting day of market moves and potential market-shaping announcements.”
US stocks rose on Monday, recovering from a recent sell-off, as investors looked ahead to key events including the Federal Reserve’s policy decision and Apple’s earnings. The S&P 500 and Dow Jones Industrial Average both saw gains of around 1%, while the tech-heavy Nasdaq Composite was up about 0.9%. The Federal Reserve’s decision on interest rates, Apple’s quarterly results, and the US jobs report for October are all being closely watched. In other news, activist investor Nelson Peltz has gained an ally in his battle for a board seat at Disney, as former Marvel executive Ike Perlmutter has entrusted his stake in the company to Peltz. General Motors has reached a tentative agreement with the United Auto Workers union, joining rivals Ford and Stellantis in ending the labor dispute that has impacted the autos industry. Meanwhile, Oppenheimer has lowered its year-end target for the S&P 500 to 4400 from 4900, citing rising yields and increased geopolitical concerns. McDonald’s shares were up after the fast food giant reported third quarter earnings that beat expectations.